Cosmin Ghiță was appointed General Manager of Nuclearelectrica for a four-year term after functioning as interim general manager since May 2017. The leadership of the company is completed by Dan Laurențiu Tudor, deputy general manager, and Adrian Gabriel Dumitru, financial director, writes a press release published by the BSE. Appointments are the result of a selection procedure started in October 2018.

In Autumn 2017, Cosmin Ghiță presented five priorities for Nuclearelectrica: the refurbishment of Cernavoda Unit 1, identifying the optimal strategy for Nuclearelectrica to ensure constant and affordable access to primary resources, the human resources policy, diversification of sources of income for Nuclearelectrica and ensuring operational safety.

In successive interim mandates, Cosmin Ghiță coordinated the initiation of Phase I of the Strategy for the refurbishment for Unit 1 (approved by GMS) and the establishment of the Specialty Division responsible for running the project phases, with a value estimated at 1.2-1.5 billion euro. The strategy of diversifying sources of raw material supply under predictable conditions and avoiding dependency on a supplier has also been approved by shareholders.

The implementation strategy of the Detritiation Plant was launched too, an investment project worth 190 million euros, that it will lead to costs reduction and shorter shutdown period for retrofitting; a due diligence analysis for taking over the branch for processing nuclear fuel Feldioara from CNU was also started.

The main challenges remain the completion of negotiations with the Chinese investor to start the construction of units 3 and 4, as well as maintaining sound financial results in future years. The impact of the reintroduction of regulated prices for household consumers will be borne, to a large extent by Nuclearelectrica, a producer that, unlike Hidroelectrica, the other ‘cheap’ state-owned power generator, cannot rely on revenues from balancing services.